Revision of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to U.S. Income Tax Return Forms for Individual Taxpayers, 103933-103934 [2024-30074]
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Federal Register / Vol. 89, No. 244 / Thursday, December 19, 2024 / Notices
103933
TABLE 2A—FISCAL YEAR 2025 TAXPAYER BURDEN FOR PASS-THROUGH CORPORATIONS ON FORM 1120S—Continued
Average time
(hrs.)
Total positive income
5. >100mil ....................................................................................................................................
1,199
Average
out-of-pocket
costs
167,915
Average
monetized
burden
307,245
TABLE 3A—FISCAL YEAR 2025 TAXPAYER BURDEN FOR PARTNERSHIPS ON FORM 1065
Average time
(hrs.)
Total positive income
1.
2.
3.
4.
5.
<100k .......................................................................................................................................
100k to 1mil .............................................................................................................................
1mil to 10mil ............................................................................................................................
10mil to 100mil ........................................................................................................................
>100mil ....................................................................................................................................
39
49
86
319
1,494
Average
out-of-pocket
costs
$1,663
4,743
13,803
51,636
223,989
Average
monetized
burden
$2,453
7,319
23,334
88,752
397,651
Source: IRS: RAAS:KDA:BRDN (12–1–24).
Detail may not add to total due to rounding.
(Authority: 44 U.S.C. 3501 et seq.)
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024–30075 Filed 12–18–24; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
Revision of Information Collection
Request Submitted for Public
Comment; Comment Request on
Burden Related to U.S. Income Tax
Return Forms for Individual Taxpayers
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the public and other Federal
agencies to take this opportunity to
comment on proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. Currently, the IRS is
soliciting comments concerning the
burden associated with the U.S. Income
Tax Return Forms for Individual
Taxpayers.
DATES: Comments should be received on
or before January 21, 2025 to be assured
of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
lotter on DSK11XQN23PROD with NOTICES1
SUMMARY:
VerDate Sep<11>2014
18:08 Dec 18, 2024
Jkt 265001
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Melody Braswell by
emailing PRA@treasury.gov, calling
(202) 622–1035, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: U.S. Income Tax Return for
Individual Taxpayers.
OMB Number: 1545–0074.
Form Numbers: Form 1040 and
affiliated return forms.
Abstract: IRC sections 6011 & 6012 of
the Internal Revenue Code require
individuals to prepare and file income
tax returns annually. These forms and
related schedules are used by
individuals to report their income
subject to tax and compute their correct
tax liability. This information collection
request (ICR) covers the actual reporting
burden associated with preparing and
submitting the prescribed return forms,
by individuals required to file Form
1040 and any of its affiliated forms as
explained in the attached table.
Current Actions: There have also been
changes in regulatory guidance related
to various forms approved under this
approval package during the past year.
There have been additions and removals
of forms included in this approval
package. In filing season 2025, the
Internal Revenue Service (IRS) will
continue to employ its free direct e-file
tax return system (Direct File) as an
PO 00000
Frm 00170
Fmt 4703
Sfmt 4703
optional service available to taxpayers
with supported tax situations.
Type of Review: Revision of a
currently approved collection.
Affected Public: Individuals or
Households, Farms.
Estimated Number of Respondents:
168,800,000.
Estimated Time per Respondent
(Hours): 12 hrs. 37 mins.
Estimated Total Annual Time (Hours):
2,129,000,000.
Estimated Total Annual Monetized
Time ($): 44,997,000,000.
Estimated Out-of-Pockets Costs ($):
48,683,000,000.
Estimated Total Monetized Burden
($): 93,680,000,000.
Note: Total Monetized Burden = Total Outof-Pocket Costs + Total Annual Monetized
Time.
Tax Compliance Burden
Tax compliance burden is defined as
the time and money taxpayers spend to
comply with their tax filing
responsibilities. Time-related activities
include recordkeeping, tax planning,
gathering tax materials, learning about
the law and what you need to do, and
completing and submitting the return.
Out-of-pocket costs include expenses
such as purchasing tax software, paying
a third-party preparer, and printing and
postage. Tax compliance burden does
not include a taxpayer’s tax liability,
economic inefficiencies caused by suboptimal choices related to tax
deductions or credits, or psychological
costs.
E:\FR\FM\19DEN1.SGM
19DEN1
103934
Federal Register / Vol. 89, No. 244 / Thursday, December 19, 2024 / Notices
TABLE 1—FISCAL YEAR 2025 ESTIMATED AVERAGE TAXPAYER BURDEN FOR INDIVIDUALS FILING A 1040 BY ACTIVITY
Primary form filed or type of taxpayer
Time burden
Money burden
Average time burden
(hours)
Percentage
of returns
Total time
All Taxpayers .........................
Type of Taxpayer:
Nonbusiness * .................
Business * .......................
Recordkeeping
Tax
planning
Form
completion
and
submission
Average
cost
(dollars)
All other
Total
monetized
burden
(dollars)
100
13
5
3
4
1
$290
$560
71
29
8
24
3
11
1
5
3
6
1
2
160
620
310
1,170
Note: Detail may not add to total due to rounding. Dollars rounded to the nearest $10.
*A ‘‘business’’ filer files one or more of the following with Form 1040: Schedule C, E, F, or Form 2106. A ‘‘nonbusiness’’ filer does not file any
of these schedules or forms with Form 1040.
Source: IRS:RAAS:KDA:TBL (11–25–2024).
TABLE 2—FISCAL YEAR 2025 TAXPAYER BURDEN STATISTICS BY TOTAL POSITIVE INCOME QUINTILE
Average time
(hours)
Total positive income quintiles
Average
out-of-pocket
costs
Average total
monetized burden
All Filers
0 to 20 ................................................................................................................................
20 to 40 ..............................................................................................................................
40 to 60 ..............................................................................................................................
60 to 80 ..............................................................................................................................
80 to 100 ............................................................................................................................
7.8
10.9
11.6
13.1
22.7
$80
128
165
232
726
$146
242
327
480
1,497
6.9
9.3
9.0
9.1
10.8
71
112
139
185
322
129
212
277
384
737
11.9
18.5
21.0
22.0
33.1
125
204
258
338
1,077
225
379
507
697
2,155
Wage and Investment Filers
0 to 20 ................................................................................................................................
20 to 40 ..............................................................................................................................
40 to 60 ..............................................................................................................................
60 to 80 ..............................................................................................................................
80 to 100 ............................................................................................................................
Self Employed Filers
0 to 20 ................................................................................................................................
20 to 40 ..............................................................................................................................
40 to 60 ..............................................................................................................................
60 to 80 ..............................................................................................................................
80 to 100 ............................................................................................................................
Source IRS:RAAS:KDA:TBL (11–25–2024).
(Authority: 44 U.S.C. 3501 et seq.)
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024–30074 Filed 12–18–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
lotter on DSK11XQN23PROD with NOTICES1
Proposed Collection; Requesting
Comments on Tax-Exempt
Organization Forms
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the public and other federal
SUMMARY:
VerDate Sep<11>2014
18:08 Dec 18, 2024
Jkt 265001
agencies to take this opportunity to
comment on proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. The IRS is soliciting
comments concerning forms used by
tax-exempt organizations.
DATES: Comments should be received on
or before January 21, 2025 to be assured
of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
PO 00000
Frm 00171
Fmt 4703
Sfmt 4703
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Melody Braswell by
emailing PRA@treasury.gov, calling
(202) 622–1035, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: U.S. Tax-Exempt Organization
Return.
OMB Number: 1545–0047.
Form Numbers: Forms 990, 990–EZ,
990–N, 990–PF, 990–T, 1023, 1023–EZ,
1024, 1024–A, 1028, 1120–POL, 4720,
5578, 5884–C, 5884–D, 6069, 6497,
7203, 8038, 8038–B, 8038–CP, 8038–G,
8038–GC, 8038–R, 8038–T, 8038–TC,
8282, 8328, 8330, 8453–TE., 8453–X,
E:\FR\FM\19DEN1.SGM
19DEN1
]]>Agencies
[Federal Register Volume 89, Number 244 (Thursday, December 19, 2024)]
[Notices]
[Pages 103933-103934]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30074]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Revision of Information Collection Request Submitted for Public
Comment; Comment Request on Burden Related to U.S. Income Tax Return
Forms for Individual Taxpayers
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the public and other
Federal agencies to take this opportunity to comment on proposed and/or
continuing information collections, as required by the Paperwork
Reduction Act of 1995. Currently, the IRS is soliciting comments
concerning the burden associated with the U.S. Income Tax Return Forms
for Individual Taxpayers.
DATES: Comments should be received on or before January 21, 2025 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Melody Braswell by emailing [email protected], calling
(202) 622-1035, or viewing the entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: U.S. Income Tax Return for Individual Taxpayers.
OMB Number: 1545-0074.
Form Numbers: Form 1040 and affiliated return forms.
Abstract: IRC sections 6011 & 6012 of the Internal Revenue Code
require individuals to prepare and file income tax returns annually.
These forms and related schedules are used by individuals to report
their income subject to tax and compute their correct tax liability.
This information collection request (ICR) covers the actual reporting
burden associated with preparing and submitting the prescribed return
forms, by individuals required to file Form 1040 and any of its
affiliated forms as explained in the attached table.
Current Actions: There have also been changes in regulatory
guidance related to various forms approved under this approval package
during the past year. There have been additions and removals of forms
included in this approval package. In filing season 2025, the Internal
Revenue Service (IRS) will continue to employ its free direct e-file
tax return system (Direct File) as an optional service available to
taxpayers with supported tax situations.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals or Households, Farms.
Estimated Number of Respondents: 168,800,000.
Estimated Time per Respondent (Hours): 12 hrs. 37 mins.
Estimated Total Annual Time (Hours): 2,129,000,000.
Estimated Total Annual Monetized Time ($): 44,997,000,000.
Estimated Out-of-Pockets Costs ($): 48,683,000,000.
Estimated Total Monetized Burden ($): 93,680,000,000.
Note: Total Monetized Burden = Total Out-of-Pocket Costs +
Total Annual Monetized Time.
Tax Compliance Burden
Tax compliance burden is defined as the time and money taxpayers
spend to comply with their tax filing responsibilities. Time-related
activities include recordkeeping, tax planning, gathering tax
materials, learning about the law and what you need to do, and
completing and submitting the return. Out-of-pocket costs include
expenses such as purchasing tax software, paying a third-party
preparer, and printing and postage. Tax compliance burden does not
include a taxpayer's tax liability, economic inefficiencies caused by
sub-optimal choices related to tax deductions or credits, or
psychological costs.
[[Page 103934]]
Table 1--Fiscal Year 2025 Estimated Average Taxpayer Burden for Individuals Filing a 1040 by Activity
--------------------------------------------------------------------------------------------------------------------------------------------------------
Primary form filed or type of taxpayer Time burden Money burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Average time burden (hours)
----------------------------------------------------------------- Total
Percentage Form Average monetized
of returns Tax completion cost burden
Total time Recordkeeping planning and All other (dollars) (dollars)
submission
--------------------------------------------------------------------------------------------------------------------------------------------------------
All Taxpayers..................................... 100 13 5 3 4 1 $290 $560
Type of Taxpayer:
Nonbusiness *................................. 71 8 3 1 3 1 160 310
Business *.................................... 29 24 11 5 6 2 620 1,170
--------------------------------------------------------------------------------------------------------------------------------------------------------
Note: Detail may not add to total due to rounding. Dollars rounded to the nearest $10.
*A ``business'' filer files one or more of the following with Form 1040: Schedule C, E, F, or Form 2106. A ``nonbusiness'' filer does not file any of
these schedules or forms with Form 1040.
Source: IRS:RAAS:KDA:TBL (11-25-2024).
Table 2--Fiscal Year 2025 Taxpayer Burden Statistics by Total Positive Income Quintile
----------------------------------------------------------------------------------------------------------------
Average time Average out-of- Average total
Total positive income quintiles (hours) pocket costs monetized burden
----------------------------------------------------------------------------------------------------------------
All Filers
----------------------------------------------------------------------------------------------------------------
0 to 20.................................................... 7.8 $80 $146
20 to 40................................................... 10.9 128 242
40 to 60................................................... 11.6 165 327
60 to 80................................................... 13.1 232 480
80 to 100.................................................. 22.7 726 1,497
----------------------------------------------------------------------------------------------------------------
Wage and Investment Filers
----------------------------------------------------------------------------------------------------------------
0 to 20.................................................... 6.9 71 129
20 to 40................................................... 9.3 112 212
40 to 60................................................... 9.0 139 277
60 to 80................................................... 9.1 185 384
80 to 100.................................................. 10.8 322 737
----------------------------------------------------------------------------------------------------------------
Self Employed Filers
----------------------------------------------------------------------------------------------------------------
0 to 20.................................................... 11.9 125 225
20 to 40................................................... 18.5 204 379
40 to 60................................................... 21.0 258 507
60 to 80................................................... 22.0 338 697
80 to 100.................................................. 33.1 1,077 2,155
----------------------------------------------------------------------------------------------------------------
Source IRS:RAAS:KDA:TBL (11-25-2024).
(Authority: 44 U.S.C. 3501 et seq.)
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024-30074 Filed 12-18-24; 8:45 am]
BILLING CODE 4830-01-P
